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The Chatwal New York, a luxury hotel in Manhattan owned by the Dream Hotel Group, has reopened after temporarily closing due to the COVID-19 pandemic. The reopening comes in the wake of Broadway's return to production and the reopening of the U.S. border to vaccinated international travelers. Dream Hotel Group is led by chairman and founder Sant Singh Chatwal and Jay Stein as CEO. The 76-room hotel includes 29 suites, 14 of which have private, landscaped terraces. It also has specialty suites, such as the theater inspired Chatwal Suite with its 500-square-foot terrace. Also, the terrace of the Garden Suite includes fountains, sculptures and heat lamps and the Library Suite includes a curated book collection. "The Chatwal, New York's reopening marks the return of luxury boutique hospitality in the heart of Midtown Manhattan," said Ashish Verma, senior vice president for Dream Hotel Group's luxury division and general manager of The Chatwal New York. "Our team is committed to our guests' safety and satisfaction with superior services in a renewed world."

HYATT HOTEL CORP. plans to acquire Dream Hotel Group's lifestyle hotel brands, including the Dream Hotels, The Chatwal Hotels and Unscripted Hotels brands, for approximately $300 million. The deal will add more than 1,700 rooms to Hyatt's lifestyle portfolio and increase Hyatt's room count in New York City by more than 30 percent. The acquisition includes a portfolio of 12 managed or franchised lifestyle hotels, with another 24 signed long-term management agreements for hotels expected to open in the future, Hyatt said in a statement on Nov. 29. The transaction, expected to close in the coming months, continues Hyatt's asset-light growth strategy following acquisitions of Two Roads Hospitality in 2018 and Apple Leisure Group in 2021. Post-acquisition, Hyatt will pay a base purchase price of $125 million, with up to an additional $175 million over the next six years. It would generate management fees of about $12 million a year on the first dozen hotels.